Soho Plaza Corp. v. Nationwide Mutual Insurance

Judgment, Supreme Court, New York County (Ira Gammerman, J.), entered July 3, 2002, which, upon the prior grant of plaintiff Soho Plaza Corp., Inc.’s motion for summary judgment declaring that defendant insurer is required to indemnify Soho Plaza for amounts paid by it in settlement of the underlying action, awarded plaintiff the total sum of $3,429,431, unanimously affirmed, with costs.

The motion court’s finding of insurance coverage does not violate public policy as embodied in statute and case law prohibiting indemnification under directors and officers liability insurance policies where…